more stock for sale.....these guys to seriously need to go private or sell themselves....ZERO liquidity...no players will get involved...and insiders and or people who got stock from an acquisition will never let up
imagine how much cash flow AHT would have if they got financing like this.....instead of buying hotels after a 5 year run in appreciation, why dont the liquidate more hotels, pay down debt, refinance debt to these terms, and buy back stock? But paying the recent highs for hotels seems much better....NOT....get a clue monty....if leverage hasnt helped by now, imagine what leverage will do if asset prices fall and rates go up.
LaSalle Hotel Properties (LHO) today announced that is has successfully closed on a new $555 million senior unsecured term loan, which matures in January 2021. At closing, the Company concurrently paid off its $177.5 million senior unsecured term loan. The Company used the remaining net proceeds to pay off the majority of the balance on its $750 million senior unsecured credit facility. As of November 9, 2015, the Company had $26.0 million outstanding on its senior unsecured credit facility.
The interest rate for the new term loan is based on a pricing grid with a range of 145 to 220 basis points over LIBOR, based on the Company’s leverage ratio. The interest rate is currently LIBOR plus 145 basis points
until they buy new hotels....but yes, if they sell that block of hotels, they shd buy back their stock at the 30% discount to book.....that is, if their book is accurate
there is no chance they raise dividend....numbers are solid, but im amazed the avg rate they pay for money went up this qtr to 4.97%.....most every other hotel reit is under 4%....I dont get it...imagine the bottom line if they paid under 4% for money like everyone else...or had a blended avg under 4%......
so artisian I am sure is done selling(largest shareholder for years)..fidelity has sold over a million shares last few qtrs, and im sure theyre out...now carlson capital selling.....ouch.....and of course no insiders have bought.....they never do without an option....this is ugly.....glad im out
During second quarter 2015, the Company refinanced the outstanding mortgage debt at Hyatt Union Square within a favorable financing environment. The new $55.8 million loan, priced at 30-day LIBOR plus 230 basis points and maturing in June 2019, will result in annual cost savings of approximately $1.0 million.
dude #$%$......for one, i have said this stock with the yield is too cheap...2, I can own the stock and be critical of monty....3, I NEVER said ALL THEIR debt is at 5.1%, I said their 4 most recent delas were at libor plus 5.1%...you obviously have hard time reading and comprehending....and I think ive been dead on in my analysis....monty has mad this too confusing....too shady, and analysts will not value this near what they value any other hotel reit.....you can diisagree and defend monty all you want.....but show me another hotel riet trading .68 of book....today i s think is qtr end liquidation so im a buyer.....you must be his brother in law....
shut up dude......here it is AGAIN......At June 30, 2015, the Company had total assets of $5.0 billion in continuing operations. As of June 30, 2015, the Company had $3.7 billion of mortgage debt in continuing operations. Ashford Trust's total combined debt had a blended average interest rate of 4.96%. On April 20, 2015, the Company announced it had closed a $25.1 million mortgage loan for the previously-closed acquisition of the Lakeway Resort & Spa in Austin, TX. The loan is interest only and provides for a floating interest rate of LIBOR + 5.10%.
On June 11, 2015, the Company announced it had completed the acquisition of the 226-room Le Pavillon Hotel in New Orleans, LA for total consideration of $62.5 million ($277,000 per key). Ashford Inc. provided $4.0 million of key money consideration for the acquisition. On a forward 12-month basis, after adjusting for the key money, the purchase price represents an estimated cap rate of 7.8% on net operating income and an estimated 11.4x EBITDA multiple. The Company also closed on a $43.75 million non-recourse mortgage loan to finance the acquisition. The loan is interest only and provides for a floating interest rate of LIBOR + 5.10%.Subsequent to quarter end, on July 1, 2015, the Company announced that it had closed on the acquisition of the 237-room W Atlanta Downtown hotel for total consideration of $56.8 million ($239,000 per key). On a forward 12-month basis, the purchase price represents an estimated cap rate of 7.2% on net operating income and an estimated 11.6x EBITDA multiple. The Company financed the property with a $40.5 million non-recourse mortgage loan. The loan is interest only and provides for a floating interest rate of LIBOR + 5.10%
Subsequent to quarter end, on July 1, 2015, the Company announced that it had closed on the acquisition of the 237-room W Atlanta Downtown hotel for total consideration of $56.8 million ($239,000 per key). On a forward 12-month basis, the purchase price represents an estimated cap rate of 7.2% on net operating income and an estimated 11.6x EBITDA multiple. The Company financed the property with a $40.5 million non-recourse mortgage loan. The loan is interest only and provides for a floating interest rate of LIBOR + 5.10%
well I agree , its cheap...but im afraid it will take an activist to get it going....i get its non recourse, but even with that libor plus 5.1 is too high..and interest only? who does that?.....goes ex wed i think....the only certain thing is analysts are not valuing AHT like monty thinks they should. And since NO INSIDER has stepped up to buy, montys valuation is a joke. Im sure next conf call we will hear why its worth 12 a shr.....
EXACTLY!!!! The market doesnt like confusion etc...and its pricing AHT accordingly....I can promise these "creative" concepts like key money, arent helping shareholders...all these spinoffs/complex deals are a waste of time and not in shareholders best interests....they can say their aligned with shareholders all they want, but we dont get huge options...and somehow getting recent hotels over 5% tells me their could be some incentive for them doing that....what they shd be focusing on, is getting a lower int rate avg than 4.96%.....
ok..i agree where its trading is ok good risk/reward...but the rest of your thesis i dont agree with.....They need to refinance all their debt....they have the highest avg rate of any hotel reit i follow....last conf call they said avg rate is 4.96%....HT is around 4.05%....HST around 4.45%...PEB is under 4%.....secondly, a platform anyone can understand? Listen the street obviously doesnt get it....neither do I....read the terms of the remington/ainc deal....its complex, confusing, and needs an IRS ruling....and for what? AINC is run by monty....monty owns remington...dont you see a SERIOUS conflict of interest? I think the street does, and thus why AHT trades at 1/2 or even 1/3 of the valuation of all other hotel reits....trading at .70 of book....HT HST PEB BEE etc all trade at 1.4-2.4x book....you say monty more right than wrong...i wont argue...but listen t olast conf call..listen to when monty explains why its worth 15, and the analyst who didnt agree with his logic. So far the analyst was right.
I am aware of the buyback during the crisis.....but what have ou done for me lately? This buisness is all about returns....and AHT has seriously lagged recently..oh, check out BMR...another reit putting themselves up for sale..up 9%
and listen, all I am doing is explaining why AHT trades at 1/2 valuation of every other hotel reit. Because obviously, if you listen to last call, monty has no clue why it does as evidenced by him saying its worth 15/shr. So, while I think its a good specualtion and undervalued, it will remain that way until monty sells it/takes it private or leaves.
yes but monty is ceo of ainc right? so, he is still running it...I promise you, its underhanded things like this that punish AHT......leverage isnt the reason AHT is .78 of book.....In fact leverage while assets(hotels) have been going up the last 4 years should have helped the stock even more. .Other than the obvious conflict of interest, how can he be CEO of 2 companies?...again, ill repeat, the is incestuous.
well, its undervalued....its an ok speculation..all I am saying is, it doesnt even come close to getting the valuations other hotel reits do.....and hopefully youre doing more thorough research then to question my numbers.....I take it you agree, libor plus 5.1%, interest only is crazy
BEE gets taken out over 2x book? HT trades 1.5xbook? PEB trades 1.5x book?HST 1.8x book? And with a 6% yield, and great cash flow, AHT trades at .80 of book? i can think of only ONE answer.